Inox Green on Tuesday, March 19, said its subsidiary I-Fox Windtechnik India Private Limited has won an order from NLC India to restore 33 wind turbine generators of NLCIL's wind power plant in Tamil Nadu's Tenkasi district. Each of the wind turbine generator is of 1.5 MW.
The contract comprises supplies of materials/spares and other activities for the restoration of the wind turbines within eight months, with a revenue realisation of ₹39.5 crore during the contract period, the company said in a stock exchange filing.
Inox Green Energy Services was founded in 2012, is headquartered in Baroda, and is as a key player in the green energy space.
In October last year, the company announced its decision to divest its entire 100% stake in Nani Virani Wind Energy Special Purpose Vehicle (SPV).
Speaking to CNBC-TV18, Devansh Jain, ED of InoxGFL Group had said, "Our target for this financial year is to make INOX Green net debt free. And I am happy to say we are on track for that.”
Inox Green shares ended 0.82% higher at ₹122.4 apiece on Monday, March 18. The stock has gained 193.53% in the past year.
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